In 1807, the United States began to industrialize in order to survive behind Jefferson’s embargo. This embargo cut the U.S. off from the industrial imports of Britain. Economical advancements with political and social improvements helped build industry. First, protection provided by the federal government provided a safe environment for manufacturing to develop. Secondly, the increase in population and immigration provided a substantial labor force to work the newly created factories. Lastly, involvement of private investors and the unification of currency stimulated economic growth which provided the funds necessary for industrial growth. In order for manufacturing to develop, the government had to provide protection for the young industry. As British exporters began to cut their prices, the U.S. government realized strong protective tariffs would be vital to the growth of industry (Doc D). With trade protected from foreign countries, there was a need for laws that would define industry within American borders. With the potential of domineering monopolies and wrongful …show more content…
Blocked by the Embargo of 1807, private investors were barred from foreign enterprises thus having their investments restricted to solely domestic interactions (Doc I). With more and more people becoming involved in the economy, numerous forms of currency also appeared. The hard currency shortage that resulted as a side effect of British mercantilism meant specie in the form of gold and silver was not a viable option for the one singular national currency America needed. The re-chartering of Bank of the United States in 1816 put more financial integrity into the American economy by providing U.S. citizens with their much needed uniform currency that was only made possible through the utilization of capital provided by private